WebThrift Savings Plan. The Thrift Savings Plan (TSP) was established by Congress in the Federal Employees' Retirement System Act of 1986 and offers the same types of savings and tax benefits that many private corporations offer their employees under 401 (k) plans. TSP is a defined contribution plan, meaning that the retirement income you receive ... Each pay period, your agency or service will deduct your contribution from your basic salary in the amount or percentage that you chose when you started contributing. If you began or rejoined federal service on or after October 1, 2024, you were automatically enrolled at 5% of your basic salary. If you began or … See more If you’re a FERS or BRS employee, your agency or service will contribute an amount equal to 1% of your basic pay each pay period to your … See more Starting in the year you turn 50, you become eligible to save even more by contributing toward the catch-up limit. Here’s what you should know: 1. Once you exceed the elective … See more If you’re a FERS or BRS participant, you will receive Agency/Service Matching Contributions from your agency or service based on your regular employee contributions once you’re eligible. Unlike Agency/Service … See more If you are a member of the uniformed services: 1. You can contribute from 1 to 100percent of any incentive pay, special pay,or bonus pay (even if you’re not currently receiving them)— as long as youelect to contribute … See more
Thrift Savings Plan (TSP) Department of Energy
WebAug 10, 2024 · The Internal Revenue Code (IRC) requires that a TSP participant who has separated or retired from federal service to begin receiving distributions from his or her TSP account in the calendar year the participant becomes age 70.5 (if the participant was born before July 1, 1949) or in the calendar year the participant becomes age 72 (if the ... WebOct 24, 2024 · The Thrift Savings Plan (TSP) is a federal government-sponsored retirement savings and investment plan. The purpose of the TSP is to provide retirement income. … dave and busters bloomington
Thrift Savings Plan (TSP) - AF
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